Japan’s real wages decline for 3rd straight month in Oct. ’24

Japan’s real wages fell by 0.4 per cent in October compared to a year ago, marking the third straight month of decline, according to revised data released from the Ministry of Health, Labour and Welfare on Tuesday.

In October, inflation-adjusted real wages at workplaces with five or more employees remained negative, indicating a decrease in consumer purchasing power despite government subsidies for utility bills.

Average monthly cash earnings per worker, including base and overtime pay, increased by 2.2 per cent to 292,430 yen (approximately $1,860), down from the initial 2.6 per cent rise.

Attribution: Xinhua

Subediting: M. S. Salama